Gold prices ease on profit-taking

Gold prices fall on Thursday after hitting a nearly two-week high

Gold futures fell on Thursday as investors booked profits after the metal hit its highest level in nearly two weeks during the previous session.

December gold futures dropped 0.5%, or $21.6, to $4,143.60 per ounce.

Spot gold slipped 0.15% to $4,155.23 per ounce, while spot silver declined 0.25% to $53.23 per ounce.

Meanwhile, the US Dollar Index—which tracks the greenback against a basket of six major currencies—edged down 0.1% to 99.48 as of 09:16 am KSA time.

By contrast, December silver futures rose 0.2% to $53.03 per ounce, while spot platinum gained 2.75% to $1,633.10, and spot palladium climbed 0.5% to $1,424.52.

Trading activity is expected to be muted during the US Thanksgiving holiday, with financial markets closed today and set to resume tomorrow, Friday, in a shortened session.